The Fijian Government has recently received a significant dividend of $3.9 million from Yaqara Pastoral Company Limited (YPCL), marking 50 percent of the company’s net profit after tax for the financial years of 2018 and 2019. This dividend was presented to the Minister for Multi-Ethnic Affairs, Culture, Heritage and Arts, and Public Enterprise, Charan Jeath Singh, by YPCL Chairman Uraia Waibuta.
Minister Singh expressed optimism regarding the payout, noting that it reflects the strength and potential of public enterprises in Fiji. He stated, “This dividend is a testament to the underlying strength of our public enterprises and reinforces our goal to ensure they are run efficiently, profitably, and sustainably.”
In the spirit of fostering transparency and good financial governance, Minister Singh urged YPCL to prioritize completing outstanding audits. Uraia Waibuta, the YPCL Chairman, expressed gratitude towards the Minister for choosing their company for his first official visit, highlighting the government’s dedication to enhancing the performance of public enterprises.
The positive interaction not only showcases the fruitful collaboration between the government and public enterprises but also signals a commitment to ongoing improvement in governance and operational efficiency, which can pave the way for a stronger economy in Fiji.
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